EnergyWatch

Siemens struck by failing industrial division orders

Sparse orders for larger electricity generators pulled Siemens down in the first quarter.

Photo: /Ritzau Scanpix/AP/Matthias Schrader/

German conglomerate Siemens could not keep pace with market expectations for the first quarter of 2018/'19, when scant orders for larger power generators burdened sales and earnings.

Siemens booked EUR 20.1 billion in revenue in Q1 of its staggered fiscal year, but analysts had, according to estimates collected by Bloomberg News, projected sales for EUR 20.5 billion.

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